Bang & Olufsen a/s : Webcast presentation Q1 2023/24
October 11, 2023 at 02:59 am EDT
Share
October 2023
Q 1 2 02 3/2024
Webcast presentation
Disclaimer
This presentation does not constitute or form part of and should not be construed as an offer to sell or issue or the solicitation of an offer to buy or acquire securities issued by Bang & Olufsen a/s in any jurisdiction, including the United States of America, Canada, Australia, Japan or the United Kingdom, or an inducement to enter into investment activity in any jurisdiction.
This presentation contains forward looking statements. Such statements concern management's current expectations, beliefs, intentions or strategies relating to future events and hence involve substantial risks and uncertainties. Actual future results and performance may differ materially from those contained in such statements. This presentation does not imply that Bang & Olufsen a/s has undertaken to revise these forward-looking statements, except what is required under applicable law or stock exchange regulation.
No part of the information contained in this presentation should form the basis of or be relied upon in connection with any contract or commitment or investment decision whatsoever. Neither Bang & Olufsen a/s nor any of its affiliates, advisors or other representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents.
Agenda
#
#
#
#
Key Highlights and Strategy Update
Financial Performance in Q1
Outlook
Q&A
Key Highlights and Strategy Update
Margins significantly improved, generating a profitable revenue growth of 5% in local currencies
Revenue
Gross margin
EBIT margin bsi*
Free cash flow
Q1 2023/24
DKK 619m
•
Revenue grew 1.2% (5% in local currencies), driven by strong EMEA growth of 28%
5% growth in local currencies
(LC). Americas grew 13% (LC) while APAC declined 16% (LC).
• Brand Partnering & other activities declined by 13% (LC), driven by high comparables
52.6%
due to Cisco headset launch last year. License income from automotive industry had a
solid growth.
(up from 36.6%)
>
•
Gross margin of 52.6%, up 16.0pp, driven by normalisation of component and
logistics cost, improved margins across product categories, supported by price
2.6%
increases since last year, and change in product mix towards higher margin products.
(up from -14.1%)
•
EBIT before special items was DKK 16m (Q1 22/23: DKK -85m), corresponding to an
EBIT margin of 2.6% (Q1 22/23: -14.1%) mainly driven by an improved gross margin.
DKK -61m
• Free cash flow up by DKK 20m to negative DKK -61m, driven by an improved
operating profit offset by a higher net working capital since Q4 22/23.
(up from DKK -81m)
* Before special items
Attachments
Original Link
Original Document
Permalink
Disclaimer
Bang & Olufsen A/S published this content on 11 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 October 2023 06:58:11 UTC.
Bang & Olufsen A/S is a Denmark-based company engaged in the design, development and marketing of audio and video equipment. The Company supplies primarily music systems, loudspeakers, television sets and multimedia products. Its activities are divided into two business areas: Business-to-Consumer (B2C) and Business-to-Business (B2B). The B2C area includes two segments: audiovisual (AV), offering audio and video products sold under the Bang & Olufsen brand; and B&O PLAY, which delivers stand-alone, portable products. The B2B business area also consists of Automotive segment, which comprises development, production and sale of sound systems for a range of cars, such as Aston Martin, Audi, BMW and Mercedes-Benz. Furthermore, the Company is parent of Bang & Olufsen Group, which operates worldwide.
BANG & OLUFSEN A/S 
